Wells Fargo & Company Upgrades Air Products and Chemicals (NYSE:APD) to Overweight

Wells Fargo & Company upgraded shares of Air Products and Chemicals (NYSE:APD) from an equal weight rating to an overweight rating in a report published on Tuesday morning, MarketBeat reports. The brokerage currently has $350.00 target price on the basic materials company’s stock, up from their previous target price of $330.00.

APD has been the topic of several other research reports. Citigroup boosted their price target on shares of Air Products and Chemicals from $345.00 to $365.00 and gave the company a “buy” rating in a report on Monday, November 11th. BMO Capital Markets upped their target price on shares of Air Products and Chemicals from $323.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. cut their price target on shares of Air Products and Chemicals from $350.00 to $345.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Vertical Research upgraded Air Products and Chemicals from a “hold” rating to a “buy” rating and set a $336.00 price objective on the stock in a research note on Monday, October 7th. Finally, Evercore ISI upgraded Air Products and Chemicals from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $305.00 to $365.00 in a research report on Monday, October 7th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $332.71.

Air Products and Chemicals Price Performance

Shares of NYSE:APD opened at $312.01 on Tuesday. The business’s 50 day moving average is $309.36 and its 200-day moving average is $293.48. The company has a current ratio of 1.52, a quick ratio of 1.34 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $69.39 billion, a PE ratio of 18.16, a PEG ratio of 2.88 and a beta of 0.84. Air Products and Chemicals has a 1-year low of $212.24 and a 1-year high of $337.00.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $1.77 per share. The ex-dividend date is Thursday, January 2nd. This represents a $7.08 annualized dividend and a dividend yield of 2.27%. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.21%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Air Products and Chemicals by 59.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 374,442 shares of the basic materials company’s stock valued at $111,488,000 after buying an additional 139,223 shares during the period. Forsta AP Fonden boosted its holdings in Air Products and Chemicals by 13.4% in the third quarter. Forsta AP Fonden now owns 45,700 shares of the basic materials company’s stock valued at $13,607,000 after acquiring an additional 5,400 shares during the last quarter. Jensen Investment Management Inc. increased its position in Air Products and Chemicals by 65.0% in the third quarter. Jensen Investment Management Inc. now owns 13,170 shares of the basic materials company’s stock worth $3,921,000 after purchasing an additional 5,190 shares during the period. World Investment Advisors LLC raised its holdings in Air Products and Chemicals by 1,205.1% during the 3rd quarter. World Investment Advisors LLC now owns 38,423 shares of the basic materials company’s stock worth $11,440,000 after purchasing an additional 35,479 shares during the last quarter. Finally, Townsquare Capital LLC lifted its position in Air Products and Chemicals by 3.9% during the 3rd quarter. Townsquare Capital LLC now owns 44,661 shares of the basic materials company’s stock valued at $13,297,000 after purchasing an additional 1,662 shares during the period. Institutional investors own 81.66% of the company’s stock.

Air Products and Chemicals Company Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.